TAN vs. HJEN

Last updated Jun 3, 2026

TAN (Invesco Solar ETF) and HJEN (Direxion Hydrogen ETF) are both Alternative Energy Equities funds - TAN tracks the MAC Global Solar Energy Index while HJEN tracks the Indxx Hydrogen Economy Index - Benchmark TR Net. Both are passively managed. A 0.58 correlation means they provide meaningful diversification when combined. TAN charges 0.69%/yr vs 0.45%/yr for HJEN.

Performance

TAN vs. HJEN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Solar ETF (TAN) and Direxion Hydrogen ETF (HJEN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TAN

• 1D: 1.60%
• 1M: 21.93%
• YTD: 47.13%
• 6M: 51.73%
• 1Y: 127.12%
• 3Y*: 0.29%
• 5Y*: -0.77%
• 10Y*: 13.81%

HJEN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TAN vs. HJEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TAN Invesco Solar ETF	47.13%	48.31%	-37.61%	-26.79%	-5.24%	-9.65%
HJEN Direxion Hydrogen ETF	0.00%	0.00%	-10.90%	-8.69%	-33.27%	-13.86%

Correlation

The correlation between TAN and HJEN is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021	0.58

The correlation between TAN and HJEN shifts across timeframes, from 0.41 (3 years) to 0.58 (all time), reflecting how their relationship changes across market environments.

TAN vs. HJEN - Sectors Allocation Comparison

Sectors	TAN	HJEN
Energy	57.3%	8.3%
Utilities	22.1%	-
Technology	9.7%	7.6%
Financial Services	3.6%	3.3%
Industrials	3.3%	31.7%
Basic Materials	-	9.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

TAN vs. HJEN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TAN

TAN Risk / Return Rank: 89
TAN Sharpe Ratio Rank: 93
TAN Sortino Ratio Rank: 87
TAN Omega Ratio Rank: 80
TAN Calmar Ratio Rank: 96
TAN Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TAN vs. HJEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Solar ETF (TAN) and Direxion Hydrogen ETF (HJEN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TAN	HJEN	Difference
Sharpe ratio Return per unit of total volatility	3.44	—	—
Sortino ratio Return per unit of downside risk	3.94	—	—
Omega ratio Gain probability vs. loss probability	1.48	—	—
Calmar ratio Return relative to maximum drawdown	9.06	—	—
Martin ratio Return relative to average drawdown	22.01	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TAN	HJEN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.44	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.12	—	—

Drawdowns

Drawdown Indicators

	TAN	HJEN	Difference
Max Drawdown Largest peak-to-trough decline	-95.29%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.62%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-64.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-73.95%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-78.53%	—	—
Current Drawdown Current decline from peak	-66.81%	—	—
Average Drawdown Average peak-to-trough decline	-78.51%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	5.61%	—	—

Volatility

Volatility by Period

	TAN	HJEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.30%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	37.21%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.74%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.98%	—	—

TAN vs. HJEN - Expense Ratio Comparison

TAN has a 0.69% expense ratio, which is higher than HJEN's 0.45% expense ratio.

Dividends

TAN vs. HJEN - Dividend Comparison

Neither TAN nor HJEN has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HJEN Direxion Hydrogen ETF	0.00%	0.00%	0.91%	1.50%	1.24%	0.76%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TAN Invesco Solar ETF	0.00%	0.00%	0.50%	0.09%	0.00%	0.00%	0.09%	0.30%	0.69%	1.77%	5.04%	1.60%

Frequently Asked Questions

Can I hold both TAN and HJEN in my portfolio?

TAN and HJEN have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TAN or HJEN?

On fees, HJEN is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TAN or HJEN?

HJEN is cheaper with a 0.45% expense ratio, compared with 0.69% for TAN.

Which ETF pays a higher dividend yield, TAN or HJEN?

TAN and HJEN have nearly identical dividend yields, around 0.00%.

What is the main difference between TAN and HJEN?

TAN tracks MAC Global Solar Energy Index, while HJEN tracks Indxx Hydrogen Economy Index - Benchmark TR Net. They also come from different issuers: Invesco and Direxion. Their fees differ too: 0.69% for TAN and 0.45% for HJEN.